Shiba Inu Price Analysis — December 22

SHIB has finally resurfaced above the $0.0000350 - $0.0000325 pivot area following a marketwide recovery. The meme coin recorded a 14% jump today, refreshing its December 12 top at $0.0000378. That said, the bullish momentum hit a snag at the $0.0000378 top as the 4-hour 200 SMA restricts SHIB from climbing higher. With that, the 200 SMA has become the critical level for bulls to break in the near term to sustain a bullish continuation. Failure to do so could activate a correction to the $0.0000350 support, where the meme coin should pull off a rebound and a retest of the $0.0000378 top.

Meanwhile, my resistance levels are $0.0000378, $0.0000400, and $0.0000420, and my support levels are $0.0000360, $0.0000350, and $0.0000325.

Total Market Capitalization: $2.26 trillion

Shiba Inu Market Capitalization: $17.8 billion

Shiba Inu Dominance: 0.79%

Market Rank: #13